Actualists routinely characterize their view by means of the slogan, “Everything is actual.” They say that there aren’t any things that exist but do not actually exist—there aren’t any “mere possibilia.” If there are any things that deserve the label ‘possible world’, they are just actually existing entities of some kind—maximally consistent sets of sentences, or maximal uninstantiated properties, or maximal possible states of affairs, or something along those lines. Possibilists, in contrast, do think that there are mere possibilia, that there are things that are not actual. They think that more exists than what actually exists. All I have done so far, though, is rephrase the slogan in various ways. To say that everything is actual is precisely to say that there are no things that do not actually exist, which is precisely to say that there are no mere possibilia, and which is also precisely to say that we cannot sep- arately quantify over what exists and what is actual. These claims all amount to the same thing. But what is that, exactly? What on earth does it mean to say that everything is actual, that there are no mere possibilia, and so on? What does the actualist slogan really come to? I think the literature is far from clear on this point, and that people work themselves into unnecessary muddles because of it. Indeed, certain confusions that I shall discuss in the first half of this article seem to be on the rise. It is high time to lay out the issues and the choice points as clearly as possible. There are two primary choices to be made; there are two axes along which versions of actualism can vary. One choice has to do with how to treat claims about things that merely could exist. The other choice has to do with the modal status of the view and of how we should think about the “actual” in actualism. I make no claim that the positions I will eventually endorse are star- tlingly new. I think that most people will agree with the decisions I make at both choice points and will in fact find some bits of this essay obvious. But not everyone agrees with my decisions, and it has been my experience that people differ remarkably about which bits they find obvious—a fact I find rather telling. My goal, then, is to show that the two axes are there and to clarify the consequences of the choices